A pie chart shows the ____________________ of individuals that fall into each category
Fill in the blank(s) with correct word
percentage
relative frequency
proportion
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When a company that uses the perpetual inventory system sells goods for cash, the journal entry to record cost of goods sold is:
The process of establishing objectives or goals for the firm and determining the means by which they will be met is:
a. controlling. b. analyzing profitability. c. planning. d. assigning responsibility.
The sole power or authority to act in a certain situation is known as:
a. exclusive jurisdiction. b. concurrent jurisdiction. c. pendant jurisdiction. d. original jurisdiction. e. diversity jurisdiction.
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 5,684 | |
| Accounts receivable | 5,684 |
B.
| Cash | 4,000 | |
| Accounts receivable | 4,000 |
C.
| Cash | 3,920 | |
| Sales discounts | 80 | |
| Accounts receivable | 4,000 |
D.
| Cash | 5,800 | |
| Accounts receivable | 5,800 |
E.
| Cash | 5,684 | |
| Sales discounts | 116 | |
| Accounts receivable | 5,800 |